VANCOUVER, BRITISH COLUMBIA--(Marketwire - Jan. 17, 2011) - Zazu Metals Corporation (TSX:ZAZ) ("Zazu") is pleased to announce the arrangement of a non-brokered private placement of C$2,250,000 subject to regulatory approval and closing. Zazu will place 5,000,000 shares at C$0.45, with no warrants or payment of any finder's fees.
The proceeds will be used to complete a suite of studies on the Lik Deposit with the intent of advancing the project to feasibility as rapidly as possible as well as general corporate overhead.
Upon completion of this financing Zazu will have 35,663,771 common shares issued and outstanding.
Zazu is a Canadian-based exploration company focused on acquiring and developing base metal properties in North America. Zazu's principal asset is its 50% interest in the Lik zinc-lead-silver deposit in North West Alaska. Teck is a 50% joint venture partner in the Lik deposit. However, Zazu has the exclusive right to obtain 80% of the property by meeting certain spending commitments by 2018. Zazu is in the enviable position of having a limited number of shares outstanding and no debt.
Additional information about Zazu is available on its website at www.zazumetals.com.
ON BEHALF OF THE BOARD OF DIRECTORS
Gil Atzmon, Chairman and CEO
Some of the statements contained in this news release are forward-looking statements, such as estimates and statements that describe the Company's future plans, objectives or goals, including words to the effect that the Company or management expects a stated condition or result to occur. Since forward-looking statements address future events and conditions, by their very nature, they involve inherent risks and uncertainties. Actual results in each case could differ materially from those currently anticipated in such statements.
Contact Information: Zazu Metals Corporation
Matthew Ford
V.P. of Corporate Development
210 858-7512
mford@zazumetals.com
www.zazumetals.com